I’ve noticed on television lately (the little that I actually do watch) that there are an increasingly number of advertisements for college loans. When I was in college, you got a loan through the school, the government, or Sallie Mae. Now, you can get one from pretty much anywhere. The latest one I saw from Chase. Another I saw the other day from a company I didn’t recognize. What I’m wondering is in this day and age of borrowing until you’re blue in the face, have things gone to far? Do credit companies really need to target people with NO income at all to make a buck? I realize college is getting more and more expensive (for what reason I’m not sure), and with Sallie Mae recently being bought out, are college students going to get a raw deal? Back when I finished school (only 7 years ago), I had classmates who graduated with $50,000 in debt, which I thought was incredible. Now, it looks like students (non-med students that is) will graduate with potentially hundreds of thousands of dollars in debt.
It seems to me that someone needs to take a hard look at the state of affording a college education. My guess is that less and less kids will go to college (that is if someone educates them that at some point, being $300,000 in debt is insane) because they can’t afford it. And I’m not talking about inner city kids or minorities, I’m talking your regular good to do, got good grades students. At some point we, as a community, need to say enough is enough and we aren’t going to pay for this stuff.